ROME (ITALPRESS) – In the fourth quarter of 2024, gross domestic product grew by 0.1 percent compared to the previous quarter and by 0.6 percent compared to the fourth quarter of 2023. This was announced by Istat, pointing out that the cyclical GDP growth released on Jan. 30, 2025 was zero, while the trend growth was estimated at 0.5 percent. The fourth quarter of 2024 had two fewer working days than the previous quarter and two more working days than the fourth quarter of 2023. The change acquired for 2025 was 0.1 percent (it had been estimated nil on January 30, 2025). Compared with the previous quarter, all major aggregates of domestic demand were up, with growth of 0.2 percent in domestic final consumption and 1.6 percent in gross fixed capital formation.
Also according to Istat, imports and exports decreased by 0.4 percent and 0.2 percent, respectively. Domestic demand net of inventories contributed 0.5 percentage points to the GDP growth: +0.1 the consumption of households and Private Social Institutions ISP, +0.4 the gross fixed capital formation and zero contribution of General Government (PA) spending. In contrast, the change in inventories subtracted 0.4 percentage points from the change in GDP, while the contribution of net foreign demand was positive to the extent of 0.1 percentage points. There were negative cyclical trends in value added in agriculture and services, which decreased by 0.7 percent and 0.1 percent respectively, while industry grew by 0.9 percent.
LA NOTA DELL’ISTAT
“The full estimate of the quarterly economic accounts shows fourth-quarter 2024 GDP growth of 0.1 percent in cyclical terms and 0.6 percent in trend terms, slightly up from the preliminary estimate, which had recorded zero growth in cyclical terms and 0.5 percent in trend terms. The slight recovery at the end of the year results in an acquired growth of 0.1 percent for 2025,” comments the National Statistical Institute. “Among the components of domestic demand, household and NPISH consumption provide a contribution of 0.1 percentage points to GDP growth, investment 0.4 points, nil that of PA, while the change in inventories subtracts 0.4 percentage points. Positive by 0.1 percentage points is the contribution of net foreign demand. Regarding value added, it is up 0.9 percent in industry, while it is down 0.7 percent in agriculture and 0.1 percent in services.”
“In terms of labor inputs and labor costs, hours worked are up 0.2 percent and per capita incomes are up 0.7 percent, while labor positions are estimated to be down 0.2 percent,” the note concludes.
-photo Ipa Agency-.
(ITALPRESS).
